Fund profile / Finland

Vendep Capital Fund IV

Geography: Finland
Stage: Pre-Seed
Fund size: €80M
Focus: AI/ML, Enterprise Software and SaaS
Signals: Published

N°01 / About

About Vendep Capital Fund IV

Helsinki-based fourth fund backing ~20 early-stage B2B SaaS startups across Nordics and Baltics with growing focus on AI-native solutions.

N°02 / Thesis

Investment Focus

Location / RegionFinland

Funding StagePre-Seed

Industry Focus

AI/ML

Enterprise Software

SaaS

Investor Signals Profile

active

Sweet Spot

AI-native B2B SaaS founder, Nordics/Baltics, early traction

AI-native B2B SaaS

Nordics & Baltics

pre-seed to seed

high follow-on conviction

operator-led support

Bullish Signals

80M€ current fund, 2025 vintageexternal

190M€ total AUMexternal

100% follow-on in next external roundexternal

78% portfolio A-rounds via their introsexternal

Portfolio co Complir accepted YC S26external

Agileday €6.4M Series A closedexternal

New investment: Test of Things (IoT/OT cybersecurity AI)external

New investment: EnforceShield (AI IP enforcement)external

2026 Portfolio Retreat held — active communityexternal

GPs review every pitch personallyexternal

Portfolio: Bookboost, Happeo, Syncle, PatentRenewal, Agiledayexternal

Hiring Investment Associate — growing teamexternal

Selective: 'handful of teams each year'website

Full focus & hands-on support modelwebsite

Founder & operator experience on cap tablewebsite

Complir $11M seed led by General Catalystwebsite

AI fundamentally shifted software capabilities & investor focuswebsite

Contrarian Signals

Very small portfolio — limited slotsexternal

Geo-restricted: Nordics & Baltics onlyexternal

Ticket 0.1–3M€ — tight rangeexternal

Founder Do's

Build AI-native B2B software

Be based in Nordics or Baltics

Show early traction before pitching

Expect close, hands-on partnership

Leverage intro network for Series A

Founder Don'ts

Don't pitch without early traction

Don't expect passive capital only

Don't pitch non-B2B software plays

29 signals on Vendep Capital Fund IV

17 bullish · 3 contrarian · 5 pitch do's · 3 don'ts · 1 GP profile, each with its source. From €9/month, cancel anytime.

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Facts

Fund Overview

Fund Size€80M

Saves0

Website

People

Key People

Vendep Capital

Timo FelinPartner

N°04 / See also

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